Earnest Partners LLC Grows Stock Holdings in Air Lease Co. (NYSE:AL)

Earnest Partners LLC grew its position in Air Lease Co. (NYSE:AL) by 7.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,269,280 shares of the transportation company’s stock after buying an additional 155,665 shares during the period. Earnest Partners LLC’s holdings in Air Lease were worth $107,859,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AL. GSA Capital Partners LLP boosted its stake in Air Lease by 1.2% in the first quarter. GSA Capital Partners LLP now owns 18,776 shares of the transportation company’s stock valued at $966,000 after acquiring an additional 217 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of Air Lease by 1.4% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 21,757 shares of the transportation company’s stock worth $1,119,000 after purchasing an additional 291 shares in the last quarter. Neo Ivy Capital Management lifted its holdings in shares of Air Lease by 32.4% during the 4th quarter. Neo Ivy Capital Management now owns 1,350 shares of the transportation company’s stock valued at $57,000 after purchasing an additional 330 shares during the last quarter. Bank of Nova Scotia boosted its position in shares of Air Lease by 1.6% in the 4th quarter. Bank of Nova Scotia now owns 26,856 shares of the transportation company’s stock worth $1,126,000 after purchasing an additional 414 shares in the last quarter. Finally, CWM LLC grew its stake in Air Lease by 16.5% during the 2nd quarter. CWM LLC now owns 3,111 shares of the transportation company’s stock worth $148,000 after buying an additional 440 shares during the last quarter. Hedge funds and other institutional investors own 94.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AL. Barclays decreased their price target on Air Lease from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. JPMorgan Chase & Co. decreased their price objective on shares of Air Lease from $54.00 to $52.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. Finally, TD Cowen initiated coverage on shares of Air Lease in a research report on Monday, July 29th. They set a “buy” rating and a $58.00 target price on the stock. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.75.

Air Lease Stock Down 0.2 %

Air Lease stock opened at $45.00 on Thursday. The business’s 50-day simple moving average is $45.07 and its two-hundred day simple moving average is $47.20. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.50 and a current ratio of 0.50. The company has a market cap of $5.01 billion, a PE ratio of 9.07, a PEG ratio of 1.01 and a beta of 1.59. Air Lease Co. has a fifty-two week low of $33.33 and a fifty-two week high of $52.31.

Air Lease (NYSE:AL) last issued its earnings results on Thursday, August 1st. The transportation company reported $1.15 EPS for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.41). Air Lease had a net margin of 20.85% and a return on equity of 8.97%. The firm had revenue of $667.29 million during the quarter, compared to analysts’ expectations of $687.93 million. Equities analysts anticipate that Air Lease Co. will post 6.46 EPS for the current year.

Air Lease Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Friday, September 6th will be paid a $0.21 dividend. The ex-dividend date is Friday, September 6th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.87%. Air Lease’s payout ratio is currently 16.94%.

Air Lease Company Profile

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet aircraft to airlines worldwide. It sells aircraft from its fleet to third parties, including other leasing companies, financial services companies, airlines, and other investors. The company provides fleet management services to investors and owners of aircraft portfolios.